Quartz·1 min read·medium
CPI beat expectations. IBM crashed 22%. Oil surged. The S&P is barely up
✦AI Summary
The U.S. June CPI rose by 3.5% annually, which was lower than the 3.8% forecast by economists. Despite this, market gains were limited by a significant 22% drop in IBM stock and rising oil prices.
June CPI came in at 3.5% annually, below the 3.8% economists expected, but rising oil prices and an IBM warning capped gains
businesseconomy
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